***********************************************************************************************************************
					
               				Matthew Denes & Madeline Marco Scanlon
			"Shining a Light on Firm Political Connections: The Role of Dark Money"

***********************************************************************************************************************

README 
This folder contains the necessary code and replication datasets used to produce the tables and figures in the paper.

The files in this replication package include the code to replicate the tables and figures in Stata.  Due to data agreements, 
the replication datasets contain randomly generated variables that maintain the same variable names to produce the results 
in the paper, but the replication data have been randomly generated and broadly follow the statistical distributions presented 
in Table 2 and described in the paper.

Please contact Matthew Denes (denesm@andrew.cmu.edu) or Madeline Marco Scanlon (madeline.scanlon@moore.sc.edu) with any questions.


DEPENDENCIES
The following Stata packages are necessary:

	- reghdfe
	- ppmlhdfe


EXECUTION
To run the entire analysis, the user must change the working directory to the "replication" folder
and then run the following command in Stata:

	. do analyze_firm_dark_money.do


FILE TREE
replication\
	|Figures\	               : folder to which figures will be saved.
	|Tables\	               : folder to which tables will be saved.
	|analyze_firm_dark_money.do    : analysis do file to replicate the analysis in Stata.
	|replication_firm_year.dta     : data file that contains randomized firm-year variables.
	|replication_dark_money.dta    : data file that contains randomized dark-money variables.


replication\Figures\
	Each file in this folder directly corresponds to a figure in the paper. 

replication\Tables\
	Each file in this folder directly corresponds to a table in the paper.
	Regression results are returned as a tex file.
	t-tests are returned as a text log file containing the output in that table.

